ETRL +2x GraniteShares 2x Long ETOR Daily ETF

BULL ETF standard · Issuer GraniteShares · Tracks ETOR · Listed 2025-09-02

Quote & options All leveraged ETFs

Implied AUM

$1.3M

shares out × price

Last close

$12.57

20260618

30-day avg volume

2,014

no listed options

ETRL realized

—

what holders actually earned

Theoretical +2x

—

+2x × ETOR's return

Decay gap

—

realized minus theoretical

Realized vs theoretical +2x ETOR

Cumulative return of ETRL against a clean +2x of ETOR's return over the same window; the red line (right axis) is the gap between them.

How ETRL works

ETRL targets +2x the daily return of ETOR — not the return over longer windows. It rebalances every day, so over weeks and months its result drifts away from +2x × the index, usually downward when the market chops around.

The maths: the drag is roughly −½ × N × (N−1) × σ² per period (N = leverage, σ = the index's volatility). For a +2x fund on an index with 25% annual volatility that is several percent a year before fees — the red line above is that drag measured.

Short-term trades (a day or a few) are what these funds are built for. Premium sellers like their rich option IV — see the quote page. Multi-day directional bets work in strong trends and get eaten in chop.

Not investment advice.